Ares deploys $850m continuation strategy amid record $240bn secondaries wave
Ares Management has closed an $850m continuation fund to hold Convergint Technologies, according to a Bloomberg report.
The vehicle allows an asset originally acquired in 2018 to be transferred into a new structure.
The deal provides liquidity to existing investors while enabling Ares to retain exposure to the business.
Leonard Green & Partners reportedly acted as lead investor in the fund. Goldman Sachs’ alternatives business also participated.
Ares confirmed that one of …
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